Rosneft's 2017 Proved Hydrocarbon Reserves Increases 6%

Rosneft Oil Co. (ROSN.MZ) said Friday that its proved hydrocarbon reserves for 2017 rose 6% compared with the end of 2016, according to an audit by petroleum consulting company DeGolyer and MacNaughton.

The Russian oil company said at the end of December its proved hydrocarbons reserves stood at 39.9 million barrels of oil equivalent compared with 37.8 million barrels at the same point in 2016.

By the end of 2017, Rosneft's U.S. Securities & Exchange Commission approved reserves life totaled about 20 years. The organic proven hydrocarbon reserves replacement ratio was 184% in 2017, the company said.